ITR-1(Sahaj) Return Filling
Brief Overview of ITR-1 Return
This Return is applicable for a Resident Individual having Total Income from any of the following sources up to Rs 50 Lakhs:- - Salary/Pension Income - One House Property Income - Other Sources (Dividend, Family Pension, Fantasy Sports Etc) - Agricultural Income Upto Rs 5,000 - Interest from Savings Bank Accounts, Bank FD’s, Interest on Enhanced Compensation etc
This ITR cannot be filed by an Individual Who:- - Is a NRI or Resident Not Ordinarily Resident - has total income exceeding Rs 50 Lakhs - has Agricultural Income exceeding Rs 5,000 - has income from business or profession - is a director in a company etc.
Document Required to file ITR-1:- - Form 16, - House Rent Rceipts (If there is rental Income) - Tax Saving Investment Proofs (PPF, Mutual Funds statement, LIC Receipt, School Fee Receipts, mediclaim receipt etc) - PAN Card Copy - Aadhar Card Copy - All Bank Account Statements (These are required to calculate Interest Earnings)